Algodones, NM is a small town located in the US state of New Mexico. It is well known for its affordable 2 bedroom rental rates, with prices at only $900 per month. This is much more affordable than the average 2 bedroom rental rate in the United States of $1430 per month. Additionally, the grocery cost index in Algodones is 95 versus 100 in the US, meaning that food items are slightly cheaper as well. The town is home to several local businesses such as “Rolling Range General Store” and “The Country Store” which offer groceries and other services to the community. The town also boasts “Café De Algodones” which serves up delicious Mexican cuisine. With its low cost of living and great local businesses, Algodones seems like an ideal place to call home!
Algodones has an unemployment rate of 8.0%. The US average is 6.0%.
Algodones has seen the job market increase by 3.4% over the last year. Future job growth over the next ten years is predicted to be 37.5%, which is higher than the US average of 33.5%.
Tax Rates for Algodones
- The Sales Tax Rate for Algodones is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Algodones is 4.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Algodones
- The average income of a Algodones resident is $24,826 a year. The US average is $28,555 a year.
- The Median household income of a Algodones resident is $40,694 a year. The US average is $69,021 a year.